Chile Inflation November 2016

Chile

Chile: Inflation constant in November

December 7, 2016

Consumer prices rose 0.1% in November over the previous month, slightly below October’s 0.2% increase and beating market expectations of an entirely flat reading. According to the National Statistical Institute (INE), November’s increase reflects higher prices for housing, recreation and culture and household equipment, while the price of clothing, transport and healthcare fell compared to the prior month.

Inflation was 2.9% in November, matching October’s reading, which was the lowest since January 2014. Inflation remains within the Central Bank’s target range of 2.0%-4.0%. Core consumer prices, which exclude volatile categories such as oil, fresh fruit and vegetables, increased 0.2% in November from the previous month, following a 0.1% rise in October. Core inflation increased slightly from 3.0% in October to 3.2% in November.

The Central Bank sees year-end inflation at 3.5% in 2016 and at 3.1% in 2017. FocusEconomics Consensus Forecast panelists expect inflation to close 2016 at 3.1%, which is down 0.2 percentage points from last month’s forecast. For 2017, panelists forecast inflation of 3.0%, which is unchanged from last month’s estimate.


Author:, Economist

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Chile Inflation Chart


Chile Inflation November 2016 0

Note: Year-on-year and monthly variation of consumer price index in %.
Source: Chile National Statistical Institute (INE).


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